Global Logistic Properties (GLP) agreed to be acquired by a Chinese private equity consortium backed by senior GLP executives for about S$16 billion ($11.6 billion), choosing it over a rival bid in Asia's largest private equity buyout. The winning group of China's Hopu Investment Management, Hillhouse Capital Group, Vanke Group and Bank of China Group Investment was supported by GLP Chief Executive Ming Mei in its bid, which trumped an offer by a Warburg Pincus-led consortium - the only other short-listed bidder.